Safmarine, an AP Möller-Maersk division specialising in north-south shipping routes, revealed a net profit of US$186 million drawn on a revenue over US$2.4 billion in the first nine months of the year.
This is the first time that Safmarine has revealed its financial results since being acquired by the AP Möller-Maersk Group in 1999.
Compared to its parent's container division, the carrier only made US$0.0775 on every dollar earned, which was lower than its holding company's 17.7 cent rate, reported London's Containerisation International.
AP Möller-Maersk recorded a net profit of US$2.25 billion with US$19.5 billion revenue in the same period.
The east-west trade is the most profitable sector for most carriers and the size is much bigger than the vertical one.
{WISroYQ symbol='MAERSK-A.CO'}
